Najib's premiership was rocked by a series of reports by the Wall Street Journal since mid-2015 tracing how over US$1 billion of 1MDB funds were transferred into his personal bank accounts.
(March 30): State fund 1Malaysia Development Berhad has cleared over 3 billion ringgit ($9.5 million) in debt over the past two years, Prime Minister Najib Razak said on Wednesday, amid ongoing money-laundering probes linked to 1MDB in at least six countries.
The sovereign wealth fund, founded by Najib, is at the center of civil lawsuits filed by the U.S. Department of Justice that allege more than US$3.5 billion was misappropriated from 1MDB. The fund is also being investigated in Switzerland and Singapore.
